Regulatory Alerts2026-07-27
Added · Updated
IOEAMA UNSCR Ref SC16421 Libya 22 July 2026
The Security Council Committee concerning Libya added the vessel "Avax" (IMO: 9058713) to its Sanctions List on July 22, 2026, subjecting it to an assets freeze, travel ban, and other measures related to illicit petroleum export from Libya. Licensees and registrants of the Securities Commission of The Bahamas are directed to ensure full compliance with relevant acts and regulations, including the International Obligations (Economic and Ancillary Measures) Act and the Anti-Terrorism Act, 2018. They must complete and submit Targeted Financial Sanctions Reporting Forms for any positive matches to the Financial Intelligence Unit and the Office of the Attorney General within 24 hours of this notice, with confirmation sent to the Commission. Non-compliance is an offense punishable by a fine up to $250,000.00, plus potential disciplinary action and a minimum fine of $200.00 per day.